The Taoiseach, Brian Cowen has welcomed the publication of a key report on the operation of regulation initiatives in Ireland.

The Organisation for Economic Cooperation and Development (OECD) Better Regulation agenda is focused on ensuring that legislation affecting both business and the consumer is fit for purpose and that decision makers fully understand all the costs and impacts associated with it.

Specific projects in this area include Regulatory Impact Analysis (RIA) which is supported by the Department of the Taoiseach and the Administrative Burden Reduction Programme overseen by the Minister for Enterprise, Trade and Innovation.

The Taoiseach thanked the OECD team for their comprehensive consideration of the processes underpinning the development of legislation in Ireland adding that, "this report, while prepared for the EU Commission is also of key interest to us nationally and its findings will undoubtedly inform action in this area over the coming year".

Noting that in many areas Ireland compares well with its European counterparts, the Taoiseach acknowledged that a greater engagement with the agenda is needed across the Government system.

Referring to the need for strong linkages between this agenda and economic renewal and public service transformation strategies, he stated: "It is clear that Better Regulation has a key role to play in our efforts to improve competitiveness and reinvigorate the economy.

"Initiatives in this field are already contributing to better and clearer legislation and improved regulation of key sectors of the economy but further improvements are needed. Progress in these areas will be jointly reviewed by Departments and key regulators at the second Annual Regulatory Forum in spring 2011."

Better Regulation is an important part of the Government's drive for greater economic competitiveness and modernisation of the Public Service.

(BMcC/GK)